Nazara will also invest ₹150 crore in primary capital into Moonshine via compulsory convertible preference shares, the company said in its filings.PokerBaazi drives 85% of Moonshine's net revenue, and its fantasy sports platform, SportsBaazi, contributes 12%.As of May 2024, PokerBaazi had 340,000 monthly active users.Nitish Mittersain, CEO of Nazara Technologies, said, "This investment in Moonshine Technology represents a major step in our journey to strengthen Nazara's position as India's dominant gaming platform." Nazara is the listed gaming and esports company, with majority ownership of several gaming and esports brands with presence in India, the US, and other global markets. In esports, Nazara has NODWIN Gaming platform and Sportskeeda/Pro Football Network in the sports media space.Navkiran Singh, CEO & Founder, Baazi Games (MTPL) said, "As the Indian gaming sector continues to grow, we firmly believe that partnering with Nazara Technologies is the right step toward advancing the nation's gaming ecosystem.This partnership will also contribute to our aim for global expansion in the gaming space." Niko Partners' 2024 India Games Market report says 65.4% of respondents are engaged with esports through playing, watching, or competing in tournaments.

Nazara buys 47.7% in PokerBaazi parent Moonshine for ₹982 cr

621.97,1570.96,1392.89,73.42,2067.00,3130.00

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{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.